While Congress would be able to halt the borrowing increase by a vote of disapproval, it would be subject to a presidential veto and have little chance of gaining the necessary supermajorities to override it.

Since a vote to increase the debt ceiling is politically unpopular for many members, especially conservative Republicans, the tactic allows lawmakers to vote against an increase without actually threatening default.

Schumer's office said in a statement that the legislation "would drastically reduce the chances that the debt ceiling could be used as a political weapon designed to extract policy concessions from the opposing party."

It is unclear whether Republicans would support the measure since it would reduce their disapproval of a debt-limit increase to a largely symbolic vote. The debt-ceiling vote has been used in recent years as a major negotiating tool for Republicans that many would be hard-pressed to give up.

In 2011, McConnell fashioned the proposal after past measures, and it was included as part of a broader package. In interviews at the time, he said it was designed to make Obama own the debt-limit increase.

"We thought he ought to own it. It's part of my job to protect my members if I can against having to vote for it," McConnell said at the time in an interview for the book The Price of Politics.